Tax assessment , or assessment , is the job of determining the value, and sometimes determining the use, of property , usually to calculate a property tax . This is usually done by an office called the assessor or tax assessor .
7-677: The Cook County Assessor is the assessor and county government officer of Cook County , Illinois . Before the creation of the position of Cook County Assessor in 1932, the Cook County Board of Assessors completed assessments in Cook County. The Board of Assessors had been created after a law passed by the Illinois General Assembly on February 25, 1898 created a Board of Assessors in counties with 125,000 or more inhabitants. The board had five members, with
14-439: A county , municipality , or township ; this information is then used by the local governments to determine the necessary rates of taxation to support the community's annual public budgets. In Florida, this official is known as the property appraiser . In Vermont , this office is known as a lister . This government job-related article is a stub . You can help Misplaced Pages by expanding it . This real estate article
21-467: A right to appeal the assessed value concluded by the assessor. An initial step in the appeal process is for the taxpayer to make an independent estimate of market value and to compare it against the assessed value. In local government in the United States , an assessor, also called a tax assessor , is an appointed or elected official charged with determining the value of each taxable property in
28-498: A rule that no more than four could reside in the same city. After an apparent fourteen-month delay in determining the 1931 assessment, it was decided that the structure of assessment in Cook County, with a five-member board of assessors and three-member Cook County Board of Review , needed to be restructured. On February 13, 1932, the Illinois General Assembly passed a law that in counties of 250,000 or more,
35-412: Is used in different ways, but often refers to a tax liability owed by a taxpayer. In the case of property, a tax assessment is an evaluation or an estimate of value that is typically performed by a tax assessor. The assessment leads to an "assessed value," which is a base number used in the calculation of the property tax. There is a relationship between the assessed value and the tax liability. The higher
42-423: The assessment, the higher the tax bill. In some jurisdictions, the assessed value is meant to equal the market value of a property. In other areas, the market value is multiplied by an assessment ratio to arrive at the assessed value. Once a tax assessor determines the assessed value, it is multiplied by a tax rate, called a "mill rate," to arrive at the amount of the property tax. Most state statutes give taxpayers
49-729: The governor and the presidents of those counties' board of commissioners would appoint an Assessor to hold office until either the first Monday in December 1932, or until a successor could otherwise be elected. The first election for the office of Cook County Assessor took place in November 1934 for a four-year term. The Board of Assessors was disestablished once the new assessor took office. Assessor (property) Governments need to collect taxes to function. Federal, state, and local governments impose tax assessments against real property, personal property, and income. The word tax assessment
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